Raymond James Trims Killam Apartment REIT (TSE:KMP.UN) Target Price to C$21.75

Killam Apartment REIT (TSE:KMP.UN) had its price objective trimmed by Raymond James from C$22.75 to C$21.75 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on KMP.UN. TD Securities upped their target price on shares of Killam Apartment REIT from C$21.00 to C$23.00 and gave the company a buy rating in a research note on Friday, February 16th. Royal Bank of Canada upped their price target on shares of Killam Apartment REIT from C$23.00 to C$23.50 and gave the company an outperform rating in a research report on Friday, February 16th. CIBC upped their price target on shares of Killam Apartment REIT from C$20.00 to C$22.00 and gave the company an outperform rating in a research report on Friday, February 16th. Laurentian lowered shares of Killam Apartment REIT from a buy rating to a hold rating and set a C$20.50 price target for the company. in a research report on Monday, January 22nd. Finally, National Bankshares upped their price target on shares of Killam Apartment REIT from C$22.00 to C$22.75 and gave the company an outperform rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of C$21.88.

Killam Apartment REIT Price Performance

KMP.UN opened at C$17.27 on Wednesday. The company has a debt-to-equity ratio of 88.09, a quick ratio of 0.03 and a current ratio of 0.08. The stock has a market capitalization of C$2.04 billion, a P/E ratio of 7.68 and a beta of 1.05. The company’s 50-day simple moving average is C$18.44 and its two-hundred day simple moving average is C$18.00. Killam Apartment REIT has a 52-week low of C$15.36 and a 52-week high of C$20.13.

Killam Apartment REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be issued a $0.0583 dividend. This represents a $0.70 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Monday, April 29th. Killam Apartment REIT’s dividend payout ratio is 31.11%.

About Killam Apartment REIT

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating, managing and developing a $2.8 billion portfolio of apartments and manufactured home communities. Killam's strategy to enhance value and profitability focuses on three priorities: 1) increasing earnings from existing operations, 2) expanding the portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.